Reporting of Gross Receipts with Deductions in ITR

This query is : Resolved

k chakraborty (Querist)
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11 June 2024 We are a govt. contractor firm and all our bills receive deductions for statutory amounts (TDS, GST TDS, BOCWW Cess, etc.). When reporting gross receipts in the ITR, should we include these deducted amounts in the:

- 'Receipt through bank' column, or
- 'Receipt through any other mode' column

Given that:

- Gross Receipts include deductions (TDS, GST TDS, BOCWW Cess, etc.)
- All receipts are received through bank after deductions
- ITR asks for Gross Receipts, subdivided into:
1. Receipt through bank
2. Receipt through any other mode

Please provide guidance on where to report the gross receipts, including deductions, in the ITR.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 June 2024 1. Gross receipts include the referred deductions.
2. Report it under 'Received Through Bank'

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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31 August 2024 Good luck.

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